If you are a trend-follower, the market's volatile and choppy tendencies in 2011 have made for one of the most difficult environments for catching profitable trends...Thus, we think investors can best avoid dying the "death of a thousand cuts" by taking a slower pyramiding approach in this market so that if a trend signal proves to be false, risk is kept to a minimum.
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If you are a trend-follower, the market's volatile and choppy tendencies in 2011 have made for one of the most difficult environments for catching profitable trends. In this market environment, any trend that begins to develop tends to be short-lived.
Read the full article here.

We think things will get worse before they get better. The breakdown in gold shown in the chart below is likely signaling another liquidity crunch like we had in late 2008, and we think it could bode ill for the markets in the near- to intermediate-term. In the chart below, note that gold broke down below its 200-dma in August of 2008 and stocks followed soon thereafter, in September.
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